The looming threat of tariffs has presented a considerable barrier to dealmaking for organic traders. Canadian suppliers are unwilling to assume the risk of selling products like organic soybeans or soybean meal to US buyers with an unknown additional cost center on the horizon.

Merchandisers told Fastmarkets that at least four Canadian crushers are avoiding terms beyond a next week delivery. Volume suppliers are looking to potential imports to replace West African organic soybean meal, but it isn’t clear where that will come from. They have coverage through the first quarter, leaving a lot of people seeking coverage for the second quarter and beyond. 

Merchandisers describe a widening gap between buyers and sellers. Major suppliers told Fastmarkets that they have assumed the carry burden until now but indicate this will change in 2025. Buyers have avoided carry costs which…